Vingroup targets 500 million USD from bond issuance in Singapore
VNA -
(VOVWORLD) -Vietnam’s largest private conglomerate Vingroup is planning to seek its shareholders’ approval to raise 500 million USD from issuing unsecured bonds on the Singapore Exchange (SGX).
 A corner of Vinpearl Phu Quoc (Photo: VNA) |
The issuance is expected to be carried out in 2021, depending on market conditions, and approval from competent authorities. The money raised will be used to pay debts, and pump up capital for its business activities.
Over a decade ago, Vingroup’s Vincom JSC debuted on the international debt capital market, with a 100 million USD issuance of bonds on the SGX.
In March 2012, following the merge of Vincom and Vinpearl, Vingroup mobilised 185 million USD worth of international bonds on the exchange.
Within seven years, Vingroup carried out over 18 transactions in both capital and debt markets, gaining more than 7.8 billion USD.
Total asset value of the group reached over 424.26 trillion VND (18.38 billion USD) by the end of 2020, 5 percent higher than the amount recorded on the outset of the year. The group’s revenue topped 110.46 trillion VND, falling 15 percent from the previous year.
VNA